Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received an average recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $56.40.
Several analysts have recently weighed in on TTEK shares. BidaskClub downgraded Tetra Tech from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. ValuEngine raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Boenning Scattergood restated a “buy” rating and issued a $65.00 price target on shares of Tetra Tech in a research report on Thursday, March 15th. Stifel Nicolaus boosted their price target on Tetra Tech from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd.
In related news, SVP Richard A. Lemmon sold 15,089 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $51.09, for a total value of $770,897.01. Following the transaction, the senior vice president now owns 51,785 shares in the company, valued at approximately $2,645,695.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Tetra Tech by 2.1% in the 1st quarter. BlackRock Inc. now owns 7,474,954 shares of the industrial products company’s stock valued at $365,900,000 after acquiring an additional 150,955 shares during the period. Summit Trail Advisors LLC increased its position in Tetra Tech by 4,393.8% during the 1st quarter. Summit Trail Advisors LLC now owns 1,439,395 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 1,407,364 shares during the period. Ceredex Value Advisors LLC acquired a new position in Tetra Tech during the 1st quarter worth approximately $69,799,000. KAMES CAPITAL plc increased its position in Tetra Tech by 14.5% during the 1st quarter. KAMES CAPITAL plc now owns 1,385,452 shares of the industrial products company’s stock worth $67,679,000 after purchasing an additional 175,782 shares during the period. Finally, Boston Partners increased its position in Tetra Tech by 4.4% during the 4th quarter. Boston Partners now owns 1,079,262 shares of the industrial products company’s stock worth $51,967,000 after purchasing an additional 45,770 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Shares of Tetra Tech traded up $0.15, hitting $57.05, on Thursday, MarketBeat.com reports. The stock had a trading volume of 221,000 shares, compared to its average volume of 252,061. Tetra Tech has a 52-week low of $39.95 and a 52-week high of $57.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $3.19 billion, a P/E ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Tetra Tech had a return on equity of 14.38% and a net margin of 4.83%. The business had revenue of $532.79 million during the quarter, compared to the consensus estimate of $509.14 million. During the same period in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. analysts forecast that Tetra Tech will post 2.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Wednesday, May 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.84%. The ex-dividend date was Tuesday, May 15th. This is a boost from Tetra Tech’s previous quarterly dividend of $0.10. Tetra Tech’s payout ratio is 22.54%.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.